Should MPF Follow iBond and Give Citizens Real Choice?

What Was the MPFA’s New Proposal?

Before “semi-portability” had even launched, the MPFA proposed a compassionate system letting members withdraw part of their contributions early in special circumstances — critical illness, children’s education, even home purchases.

What Was Wrong With the Proposal?

The grey areas were vast: critical illness could be certified by doctors, but what standards would govern education or home purchases? The government would spend huge manpower vetting cases one by one — and once implemented, many would find ways to withdraw early.

Why Follow iBond’s Example?

The government’s iBond anti-inflation bonds were offered without forcing every Hongkonger to buy — citizens chose according to their means. If both were meant to help citizens, why was MPF participation mandatory? Rather than endlessly defending MPF, the government should return real freedom of choice.